🔑 Fraser Valley is becoming more affordable — but buyers are still holding back 📉

SURREY, BC – Home prices in the Fraser Valley continued to become more affordable in June, with Benchmark prices now sitting 26 percent below their 2022 peak. Prices edged down another 0.9 percent during the month, reinforcing buyer-friendly conditions despite a sluggish market.

The Fraser Valley Real Estate Board recorded 1,147 sales on its Multiple Listing Service® (MLS®) in June, a two per cent increase from May, but four per cent below the same month last year. After pulling back in May, seller activity levelled off in June, with 3,303 new listings—virtually unchanged from May—but still nine per cent below last year's pace.

“The Fraser Valley spring market has underperformed expectations despite improving affordability and more choice for buyers,” said Ishaq Ismail, Chair of the Fraser Valley Real Estate Board. “Opportunities are clearly there. The question is whether qualified buyers on the sidelines recognize the value available today. For those looking to enter the market or move up, current conditions present a compelling opportunity.”

“Buyers are still holding back despite some improving conditions,” said Baldev Gill, CEO of the Fraser Valley Real Estate Board. “The recent agreement between Build Canada Homes and BC Housing may help add supply and improve access to ownership; however, with details still unclear, it’s difficult to assess the practical impact for buyers.”

Across the Fraser Valley in June, the average number of days to sell a single-family detached home was 37 days, while for a townhome, it was 33 days. Condos took, on average, 38 days to sell.

The composite Benchmark price for a typical Fraser Valley home declined seven per cent year-over-year to $884,800.

MLS® HPI Benchmark Price Activity  

• Single Family Detached: At $1,350,200, the Benchmark price for an FVREB single-family detached home decreased 1.2 percent compared to May 2026 and decreased 7.7 percent compared to June 2025.
• Townhomes:  At $764,100, the Benchmark price for an FVREB townhome decreased 0.7 percent compared to May 2026 and decreased 7.3 percent compared to June 2025.
• Apartments: At $476,400, the Benchmark price for an FVREB apartment/condo decreased 1.5 percent compared to May 2026 and decreased 9.1 percent compared to June 2025.